132.029 Limits for city and urban-county government on personal property tax rate. - Kentucky Statutes

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132.029 Limits for city and urban-county government on personal property tax rate. (1) In the event that the tax rate applicable to real property levied by a city or urban-county government will produce a percentage increase in revenue from personal
property less than the percentage increase in revenue from real property, the city or
urban-county government may levy a tax rate applicable to personal property which
will produce the same percentage increase in revenue from personal property as the
percentage increase in revenue from real property. (2) The tax rate applicable to personal property levied by a city or urban-county government under the provisions of subsection (1) of this section shall not be
subject to the public hearing provisions of KRS 132.027(2) and to the recall
provisions of KRS 132.027(3). Effective: July 13, 1990
History: Amended 1990 Ky. Acts ch. 343, sec. 8, effective July 13, 1990. -- Created 1982 Ky. Acts ch. 397, sec. 5, effective July 15, 1982.